Cheqbook Accounting Software Review – Simplified accounting solution that allows business owners to better understand how their companies are performing at any given time, enabling them to make more strategic business decisions about where to focus their resources

One-in-seven small business enterprises is still using outdated paper accounting methods, according to the Australian Bureau of Statistics, and that’s a statistic that needs to change. Simple accounting errors can cause businesses unnecessary headaches and unexpected expenses, as the fines that accrue when businesses make errors on their taxes and other important financial documents can run into the thousands. Cheqbook Accounting Software is a cloud-based platform that automates business accounting processes to reduce errors and makes it easier for business owners to manage their own books.

In this Cheqbook Accounting Software review, I will explain how the software works and describe which types of businesses would benefit the most from using cloud-based accounting tools. I will also delve into a few of Cheqbook’s most important features and offer insight into what differentiates the solution from competitors in the marketplace.

Cheqbook Accounting Software Review – About the Solution

Cheqbook Accounting Software is a cloud-based accounting solution created to meet the needs of small and medium-size businesses with less than $2 million in annual revenue. Built at an accounting firm when no other similar cloud accounting solutions existed, Cheqbook enables its users to manage their books faster and more accurately.

By managing their books in the cloud, business owners who use Cheqbook are able to get real-time insight into the health and vitality of their companies. With this additional information, business owners can make smarter decisions about how to allocate their business resources.

Main Functionality of Cheqbook Accounting Software

Put away the paper ledger book and close up your Excel spreadsheet. When you use Cheqbook and sync your bank accounts and credit card accounts to the platform, transactions are automatically downloaded and categorized on your behalf using a feature known as AccuScore Smart Categorization. Cheqbook then color codes each transaction to show the quality of the categorization, enabling users to quickly review their accounts in minutes rather than hours.

The longer you use Cheqbook, the smarter the application becomes. The solution provides tools that businesses can use to invoice customers by mail or email, accept online payments, and run balance sheets and other reports. Using Cheqbook allows business owners to quickly pay bills, including printed checks, and track personal expenses separately from their unrelated business items. Users can even do periodic bank reconciliations to make sure their accounts are always on track.

Benefits of Using Cheqbook Accounting Software

Cheqbook users save an average of 80 hours each year thanks to the company’s Accuscore categorization solution. Because Cheqbook uploads transactions for its users and categorizes transactions automatically, rather than requiring users to manage the process by hand, the system enables business owners to spend more time managing the marketing and operational issues that impact the health of their companies. This is on top of the fact that using Cheqbook increases the accuracy of a business’ financial books, thus decreasing the financial burden that can be caused by accidental calculation and data transcription errors.

The Basics: What Does the Interface Look Like?

Get started with Cheqbook by syncing your bank accounts to the web-based system. The application works best when you sync your bank accounts and credit card accounts into the platform. After you’ve successfully synced those accounts, Cheqbook will automatically import and automatically categorize your transactions each day.

Window to connect your bank account

If you’re unable to connect your bank or credit card to Cheqbook, you can still use software. Just download your transactions manually and upload them into the Cheqbook each morning. You also have the option to enter your transactions by hand.

You can upload transactions manually

Visit the dashboard to get a complete look at your company’s financial health in real-time. Cheqbook provides you with a look at your account balances, active invoices, and current bills.

Main dashboard

To collect money from clients or customers, create invoices using Cheqbook’s tools. Cheqbook lets you send invoices by mail or email, and you can accept payments online with PayPal or Stripe.

Interface to create invoices

Support Information

Cheqbook understands that business accounting can be complicated, which is why the company has created an expansive support center to answer virtually any query a user may have. Search the support forums by keyword or browse by topic. To get an answer to a more specific question, submit a request that includes your question, relevant details, and your contact information. A representative from Cheqbook will get back to you with a response as quickly as possible.

Pricing Information

Typically, Cheqbook pricing starts at $19.75 for one company with an unlimited number of users. Currently, however, the company is running a promotion that costs $9.87 for the first 12-months.

Cheqbook Accounting Software Review – The Bottom Line

Cheqbook differentiates itself from other cloud-based accounting platforms in two main ways. Firstly, the company has developed a unique Accuscore categorization system that uses a combination of personal data and crowd sourcing to automatically categorize transactions as they are imported into the cloud-based system. Secondly, the solution stands apart with its intuitively designed user interface. The color-coded categorization system quickly shows users where they should focus their attention.

Cheqbook operates in real-time. This means that small business owners can better understand how their companies are performing at any given time, and it enables those users to make more strategic business decisions about where to focus their resources. Cheqbook is an excellent solution for small and mid-size businesses, however its features may not be robust enough for companies that are vastly larger in size.